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as we near the 1500 mark on the s&p 500. and a 0.1% contraction is expected for the german economy in the fourth quarter. those figures will be out in just under 30 minutes. >>> the governors of the banks of italy -- trade in siena. and imf's christine legarde tells us that central bank stimulus is still needed. >> we have the central bank on the one hand which have done quite a lot, which have been the fireman, in a way. and you have the policymakers on the other hand particularly in the eurozone who have made some progress and need to keep the momentum. >> now, any minute now, we're expecting the results from germany's ifo institute. january business climate index survey is expected to rise to a reading of 103 from 102.4 in december. this, of course, follows an increase in expectations in the dew survey earlier this week. we've seen an increase in the pmi surveys for germany over the last couple of months. as the german economy particularly looking to climb out of its contraction in the fourth quarter, we're waiting on the ifo senior va to tell us whether sentiment broadly speaki
in for overall view of yahoo! and how the positive developments fit into the economy. larry i cut you off in mid-sentence so i will go to you first. good news on yahoo! specifically. how does yahoo!'s earnings beat on the earnings sort of set a stage for what is happening in the technology sector at large? is this just part of what you expect? because we also have apple pulling the nasdaq down? >> well, absolutely. you know, if you look at technology, it is always been one of the top three sectors that have always pulled us out of recessions or slowdowns. these companies, apple, google, yahoo!, continue to change the way we receive information and shop online both business appersonally. we feel technology will be here for a long time to come down the road. we like the tech sector very much. cheryl: sam as well has been so patient standing by. since marisa meyer took over the company the stock is up 30%. some are looking for headlines in the report about plans she has specific plans, for this company. sam, we're not seeing that. what type of role is leadership in all of this do you think? >> i th
driven economy to consumption. so you're probably not going to see double digit growth but i think 8% is in the cards. >> is the u.s. still the best place? >> yes. >> to invest, guys? >> mandy, what is frightening here is that we all agree that some of the best opportunities are overseas. perhaps those markets need to play catch up here. i would also add that commodities have been an area left in the dust. if the fed is very successful, igniting inflation, which may be in the cards in the future commodities would be a place to hedge someone's portfolio as they get out of bonds into equities right now. very quickly we're noting today apple is, let me put it this way. exxon is close to overtaking apple as the most valuable stock in the world. significant at all? are you guys watching that at all? >> we are watching it. it is old schools coming back to modern day trading markets that are here. we've all watched apple. we've seen the run in apple. everyone is very familiar with the stock and the products. it just got to prices that were way too lofty for retail investors and when we star
with the u.s. energy revolution, aring if to help us this year on the economy. let's bring in our ace investors, david goldman, former head of income grout at bank of america and michael farr, author of "restoring our american dream, the best investment. abigail doolittle, the investors killed it after hours. >> i think what's going on is an important inflexion point. we had another earnings miss, another guide down. this once superstar amongst the text stock has been falling for a few months. i think traders answered vestors were waiting for this report to see what the future with look like. unfortunately it's not as bright as some might have hoped for and that's now showing up in the stock. >> is there an offset here? google did very well today and revenue was very good. apple versus google consideration apple stop this rally? i don't think so but i want to get your take on this. what does it mean apple is doing badly? is it an apple thing, an economy thing or consumer thing or what? >> i think that's a great question. i think right now i tend to agree with you. i think investors wi
going in, but not as much. and of course the anxiety of potentially healthy global economy is always going to give traders an excuse to try to sell what is close to some historically low levels of yield, high levels of price. >> yeah. and when you look at equities you see this huge move in the markets. are we taking a bit of a breather? jordan, how do you see it? >> i think it's been constrained. uncertain election and fiscal cliff. and all of a sudden people are starting to pay attention to the fact there are -- inflation's low. i think the market starts to run, forest run. >> not a lot of alternatives out there. right? >> even the high paying growth stocks are paying more to bonds. and the allocation hasn't happened yet. but beware. i think that could happen. >> john, what gets people to make the great exodus out of treasuries and into equities? if you're looking to the catalyst of what can take it to the next level, that would certainly be one of them. >> yeah. i think we have to see a lot higher level of inflation which we haven't seen thus far. you have corporate yields, dividen
the of the bank of israel on keeping his economy strong and safe in a very volatile region. david: microsoft is out. the numbers are out. adam shapiro, how do they look? >> well it's a beat on earnings, david, but a miss on revenue. earnings, 81 cents per share. the street was expecting 75 cents. revenue 21.46 billion. the street was expecting 21.53 billion. jumping in real quick on the press release they're talking about it, in the last quarter, in the server and tools business, saw increase 8.5 billion. the previouser, server and tools business reported 9.1 billion of revenue. 9% increase from the prior period year-over-year. we'll jump in to see how windows 8 is performing but they're missing on revenue. sandra: we'll keep watching the stock here in after-hours trading. looks like it is getting a little bit of a boost in after-hours trading so we'll keep looking at those numbers. keep in mind the revenues numbers fell short but the earnings per share did beat. it is a decent beat. it is six pennies. let's get to the market panel. scott bower in the pits of the cme group in chicago. we hav
must do better -- >> britain's economy shrank by 2.3%, worse than expected. i could make it more difficult, more expensive for it to borrow. since 2008, britain has emerged from the recession twice now, only to slide back into economic contraction, a double-dip recession. there has never been a triple- dip since the 1950's. actually, uk firms are still hiring people. >> when you look at employment, you have to look at the part of wage growth, and wage growth is negative in real terms. if you take into account inflation. the u.k.'s competitiveness is still improving, and that is why firms who are not getting the headline numbers are still willing to take people on. that is why you see this dichotomy between the employment situation, what is happening to the economy. >> u.k. figures are not good. how does the u.k. compared to continental europe? >> in terms of growth, it is difficult to compare because they go in and out of recession at different times. the unemployment is one of the key ones. britain has done remarkably well. it is something of a mystery, and it has to do with tha
actually a friend of the system and the economy. take a listen to this one. >> i think jpmorgan was a -- was not just a fair weather friend. we were there in good times and bad times for everybody, including nations. for spain and italy we will tell you -- we were lending $15 billion net of collateral. net derivatives, spain and italy. yes, it's governments and multi- nationals if you want to be transparent. what would you do? what would you all do? if you were my board of directors, it's easy to say don't take the risk. move out. we've been in spain and italy, one for 60 years, wur finish over 100 -- one for over 100. we're not a fair weather friend. companies want us there. we have to manage that risk. something may go wrong. >> got to tell you guys, the feedback after that panel was actually not good. a lot of people criticizing jamie just in the hallways. obviously a lot of people happy to see him defending the bank. a lot of bankers here. the mood, nature of where we are. there was some criticism. the other big news, by the way, not happening in davos -- yeah? >> i was goin
have been overly optimistic on the economy. and, we've seen autos really rebounding over the last year. we're really starting to see improvement in the housing market. so, i think those are some very fundamental pieces of the economy that could really lead to some stronger growth in the future. >> reporter: as for retail investors rediscovering stocks this january, not everyone thinks the reunion is for real. some experts say the market will have to rally a lot longer before that happens. suzanne pratt, "n.b.r.," new york. >> susie: from a smartphone in your hand to a smartphone in your glasses, still ahead, the latest fashion trend: wearable technology. exxon-mobil is back on top. it's reclaimed the coveted title as the world's most valuable company. apple now slips to number two. exxon is woh an estimated $417 billion a apple is $4 billion less. since apple hit $700 a share in september. it has lost roughly $250 billion in value. the change comes exactly one year after the tech titan knocked the oil giant out of the top spot. shares of microsoft ended flat today, after posting quarte
believes that's going to be the major thing to turn around the japanese economy. cheryl: i mean it's almost a currency war, if you will. i mean they are getting into a very crowded space, and with the pressure that we have seen in particular on the dollar, over the last two years, i mean, i'm wondering what that means for us. >> absolutely. they are starting to step on the toes of the fed. you know, the fed has been really priming the pump here, printing money, printing money in efforts to keep the dollar as weak as possible in this risk off type scenario market. so now some of these other central banks are now starting to fight back a bit, and the bank of japan has probably been the most aggressive in doing so with some of the easing that they have already done. cheryl: do you think they will do more easing? is that what you think is going to be the headline here? >> we have pretty much baked into the cake that they will be raising the inflation target to 2% from 1%. they are probably going to extend their asset purchases. they're really talking about different measures to dramatically wea
've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling after a strategy session last week. worried that they have lost the public debate, republicans were clearly trying out a new message tod. >> balancing the budget over the next ten years means we save the future for our kids and our grandkids. it also means that we strengthen programs like social security and medicare and medicaid that can't continue to exist in current form without some kind of controls. >> reporter: there is just one problem. democrats argue the "no budget no pay provision" violates the constitution's 27th amendment which says any changes congress makes in its pay can't take effect until after the next election. >> we should not say to a member, "if you think the budget before you is not good for the country, vote against it and you won't get paid. if you think it's not good for the country, you better vote for it because yo
hillary clinton testifying on the benghazi attack. melissa: is the economy and low beer? we have an exclusive interview with the american trucking corporation bill graves. lori: the big apple shrinking? the new trend of micro- apartments in manhattan. 250 square feet. melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange where nicole petallides is standing by. nicole: i saw pictures of those apartments, i would love to buy one. they actually look very cute. let's take a look at some of the earnings related names. let's start at mcdonald's. it is up about a half% here. they expect the management -- that is not great news there. you can see the up arrow. when you talk about airlines they are up about three and a 3%. good news there despite the fact that superstar did actually cripple operations for some time. despite that, they did come in with an income of 37 billion compared with 18 million year-over-year. that is why you are seeing it up over 3%. united technologies which is to the upside. hitting 52 week highs today. you
a greater growth in the u.s. economy i think is still a question mark. >> down europe, up 10% china. okay. china, can be a source of top line growth. latin america could be a source of top line growth. >> and when asked about china, the words for sure, the idea that china is staging a rebound. >> and this is despite the fact that they have terrible fraud there. kind of overlooked it. when you're in that virtuous circle, it doesn't seem to matter what you say that's negative. people want to grasp the positive. it's a different kind of market from what we've had for multiple years. >> and to melissa's point about correlation, it's not that risk on, risk off, which we have dealt with for so long now. every hedge fund would come in, and say, europe's bad today, risk off. >> there are no more excuses for the fund managers who are underperforming the s&p 500. this year could be a good year, a different kind of year from the hedge funds that have done so poorly. >> they're going to have to do actual work. >> right. they will have to show performance now. >> they'll have to go through these quart
horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. sandra: you think our ranking crisis was ba back in 2008? it was, but imagine iceland. their three against banks failed. they just failed, the banks of the same leveraged that our state of the governments took the opposite approach of the u.s. so did the world end? hardly so, david. david: the world economic forum with a leader who had to make that tough choice. liz: david, the world hardly froze up and ended for iceland. sure, they had majo have major , 10% unemployment, 90% of the value lost, but today it is a much different story. we want to hear about this from the president of iceland. welcome, mr. president. >> thank you. liz: in the u.s. a lot of people still wonder what would have happened if we had let our banks fail. i know is a completely different scale, but talk about your experience and back then in 2800 google did was to allow something like that to happen. >> even though the scale is different in iceland, whether they are at large, small, they face simil
in 2014. the moves do follow heavy pressure from shinzo abe despite reflation and a flagging economy. but the yen actually settled higher with some economists. look at that. that is suggesting they ended up almost 1.2% above the dollar. there's questions whether the 2% dollar stated can be achieved. now there's plenty more on the boj's inflation packed with the government live. hi. >> hi, kelly. the bank of japan and the government issued a joint statement that set a 2% inflation target today replacing its current 1% price. from japan's monetary policy has shifted into unexplored territory. the boj agreed to try and hit the 2% target as quickly as possible rather than over the medium to long-term. but the target will probably be difficult to meet. forecasts released by the bank showed that the consumer price index will rise to just 0.9% in the fiscal year starting in 2014. boj officials said that the 2% target will be possible if the country's growth potential is improved by further government reform. the joint statement is binding for both the government and the boj calling on both
the american, the japanese and american economy. there is going to be hell to pay and it's going to happen soon. >> you're holding your news and buying. >> neil henessey, can we get back to all-time highs for the dow and the s&p. >> oh, michelle, i think easily. if you look at the dow jones right now, the price-to-sales ratio is 1.28. the most it will go up to is 1.5 so that leaves 17% on the upside or if hundred points. more importantly you look at the s&p 500 companies, they are sitting on 1.5 trillion in cash, 1.5 trillion -- >> hold on. you think 2,300 points in the dow? what are you talking about? >> very much so. >> i mean. you're talking about the high in 2007, michelle, was when the price-to-sales ratio of the dow jones was at 1.8. we're 40% away from that number, but, i mean, the companies are in great shape. there's so much cash sitting on the sidelines, and at some point in time the investors are going to get out of fix the income and move over towards equity. >> can i ask you a question and i'm very much concerned about this. what happens when the bond bubble bursts and those invest
your sense of what's going on in terms of the global economy. how do you see things? >> sure. why don't we start in europe. europe remains a challenging place. i think that the actions that mr. draghi took have technically been very strong. i think they have put a safety net under the market, but i think the challenge, is and it's one of the big topics here, is how do we get growth back into these economies. fundamentally that's what we need to do, and i don't think there's a clear path to that but it will take some time. >> been a tough couple of years. >> yes, it has. >> let's talk about citi, you're repositioning the firm. how are you planning on doing that and what's the vision going forward? >> our strategy, maria, is really focused around a few of the big secular things going on in the world. globalization, urbanization and digitization. if you think of globalization, thinking of what's going on in the economy, most of the growth is coming from the developing countries. you look at 2008 to 2012, 45% of world growth came from china. a trend we're going to continue to see the next
of the federal reserve, talks with us about the debt crisis, the economy and the fed. alan blinder joins us. >> tom: that and more tonight on "n.b.r."! >> susie: just a single cent higher. earnings from software "giant" microsoft were only a penny more than what anysts were expecting. microsoft shares slipped as much as 2% on the news in after hours trading. here are the numbers: microsoft earned $0.76 a share, down 3.7% from a year ago. revenues rose more than 2.5% to $21.5 billion, but also below expectations. the results mark the first quarter to include sales of microsoft's new windows 8 operating system, and its tablet computer, the "surface". sales of its windows division jumped 24%, but no financial details on the surface tablet. wel haveore analysis on microsoft, in a just a moment. >> tom: the other big tech story today: apple and its big fall following yesterday's lackluster results. the stock lost 12% of its value or $63 a share, closing at $450 and change. suzanne pratt reports. >> reporter: no doubt this was a sour day for investors. not only did the stock log its largest dolla
. and the economy is picking up. europe is looking better. you look at the european automobile manufacturers, bmws are up 35% last year. so i think everything is fine and i think that, you know, the old cliche is don't fight it and i think as the public realizes, and people realize the market is not going to come back. >> it's been great having you again. we appreciate your patience and we look forward to having you back soon. guys, leave us with a thought from each of you if you would. set us up for next week. we are at the point in the market we haven't been for five years. s&p 500 hanging out. industrial average point away from its all-time high. >> there is a lot to look forward to and you know a lot of it will be about what transpired on our network for the last 45 minutes. herbalife will be on everybody's lips even though that is not the economy. economy is doing better than we expected. we talked about german business confidence and so forth. but there certainly will be a new focus on herbalife, scott. and that's going to be my focus into next week. >> there's one thing that does trouble me
of an economy. steams you come there and you obviously things don't always always come through. northbound suggested it's because the adjectives are fun. do you buy that? >> no. i would say the last couple of years, people were pretty negative. i have to say, though i've only been here a day, people are pretty positive this time. a bit more optimistic about what might be happening. i wouldn't say it's time to pop champagne, but people have been more positive this year. >> thank you for being here. joe, becky, back to you guys. we'll see new a little bit. we have a fun segment for you at 6:30. >> you do. i looked through some of the stuff, andrew. you're a regular skier. >> it's a little embarrassing, but we'll show it to you. >> don't give it away. >> but your heel -- >> there it is. >> your heel is not tethers to the ski, right? that's what makes it -- right? >> this is a different type of skiing that i had never done before. >> oh, god. good. >> now you've got the piece. you'll see it. there might be a fall or two involved. >> that's how your hair got messed up yesterday. >>> coming, wha
areas of agreement between myself, i am a conservative, and don. we both agreed that this economy will do well because of energy. we both believe it is on the upswing because of housing. >> that is all you have to say? stuart: we also agree on taxes. >> we should have a free enterprise, free market system. stuart: why are you such a supporter of the most leftist president in american history? >> it is not just a chief financial officer, it is a leader of our nation. he has no peers when it comes to any other candidate on the republican side or any other republican sitting in the senate. we are out of time. connell: good morning, everyone. i am connell mcshane. dagen: i am dagen mcdowell. things are looking up on the jobs front. connell: monica crowley. dagen: dreamliner, the troubles have not gone away for boeing. michael dell has ordered one of them. connell: then there is jamie dimon and john chambers. you will be hearing from both of them in this hour. liz claman at the world economic forum. cheryl: stocks now and every 15 minutes. apple. nicole: i will show you apple in a mome
and you really do, you've got the makings of an upbeat, an up tick in america's economy, do you see it my way? >> i see it your way, this is very good news. we're on that road, stuart. but we cannot put politics completely to the side. our road has lots of potholes, lots of road blocks and possibly has a lot of tolls along the way. so, i think the biggest threat to the recovery happens to be our own government. >> yes, but -- and i'm just suggesting that if we build that pipeline and if we allow more fracking, you could have an energy based jobs recovery, i know that those are big if's, but i think we could get it if we get the pipeline and more fracking. go ahead, last word to you on this one. >> right, right, we have that, but also on the other side, remember what's going on internationally. we have a race to the bottom in terms of a currency war. right now, the dollar is going to start to strengthen from my opinion and i think when that happens, a lot of the companies that export are going to be hit, they have really good years last year, and with the weak dollar so we have the energy
is positive, and if you start looking at how the businesses and the economy is doing and juxtapose that against the politicians who aren't behaving very well, you have to be positive regarding the situation for the future stocks. >> so you like stocks more for the fundamentals than you do for any fed or congressional action right now. am i reading that right? >> absolutely, absolutely. i mean, for the third quarter of last year our stocks had earnings of over 6% which compares very favorable, and, you know, we're looking into the future and then we compare that to the general growth rates of the u.s. economy, and there's no question they are going to outperform so it has an impact. >> the imf lowered global growth numbers today, nobody seems to care because the money has to go some place and it's not going into the bond market. >> point well taken. in the past you talked about gold. >> was that long winded? >> we're about 15%, 20% in gold right now. listen, this is a stagflationry environment. going to get a lot worse. you have to own gold and oil. >> be globally diversified and mu
that's bullish for the economy. >> if you look at some of the trucking names. normally take out the airlines. the airlines have done quite well if they reduced capacity although if you look at some of the reports i think it was u.s. air, but i believe they said that some of their seats were down a bit even though they cut capacity. that was a little bit of a warning sign. even on trucking side it was okay. but now as a trader and investing in the market you have to hook six months ahead. what will happen coming down. we know everything is done well. we know they are up 7%. what's the next move. that's where you get concern. >> we look at the leading indicators. pmi from china, europe, u.s. today the leading indicators in that sentiment indicator is telling us we're not done. we could bleed higher in terms of economic sentiment and economic activity and the new orders component the global pmi looks like it will print above 50 in january for the first time in eight months. >> i'm sure there's a stock market correction. >> when? >> the stock market among other things including what
the budget, how to grow the economy. that's the kind of debate the country desevens. by the way, if we keep going down this path, we will have a debt crisis. it's not an if question, it's a when question. >> i remember him, alternativest young congressman from wisconsin that used to come on "squawk box." >> still fighting budget balthsds. >> if he's going to go on somewhere, at least he went on with david. congress must pass a stopgap spending bill by march 27th to keep the u.s. government running. and don't do that with your sneezes. >> what was that? i held it in. >> that's like -- >> i've been trying to hold it in because you were talking. >> no, no, it's going to come out. that's bad for you. something inside is going to pop or something. like an anneurism. it's bad to be repressed like that. let it out. >> that's his whole life. >> oh. >> let it out. >> michelle caruso ka brar ray. you're like a guest on the show, but thank you for being kind. >> it's the greatest feeling in the world. let it out. >> yeah, others have -- anyway, more trouble in egypt, a state of emergency has been decl
where we are not really seeing other signs of the economy reinforce it. i'd like to see some reinforcing signals and we're not, but for the time being two weeks of numbers this low are very tantalizing. >> reporter: jobless claims are now at roughly the same level they were in early 2008. also, don't forget that up until this week's cold-weather snap, temperatures were unseasonably warm, letting builders continue projects in what would typically be snowy weather. >> temperatures have been above normal and typically when you do have above normal temperatures economic activity and in particular jobless claims do show some bias for exaggerated improvement that perhaps we may not get the layoffs that are typical around this year in particular in the construction industry. >> reporter: construction is expected to continue to be strong, estimates have the industry adding as many as 140,000 jobs this year, that's up from a meager 18,000 in 2012. but construction is just one sector, and, much like the weather in january, the jobs picture could go from hot to cold just as easily. ruben ramirez,
. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into what i hope will be a robust discussion that will yield some results. we know that for almost four years the united states senate has not passed a budget, and that's part of the problem that's been contributing to the out-of-control spending in washington, and what we've said is we will extend the debt ceiling for three months to allow time for the united states senate to write a budget so we can then begin the discussions on how we're going to repay this money that we're going to borrow as well as begin to manage down the debt long term. >> what's the realistic vision in terms of a budget? i mean, this senate will have its budget pla
the big roll the private sector is playing in the rebuilding of his country and his economy. david: before we get started on this hour, we want to tell you what drove the markets with today's data. a sea of green on wall street with all three major indices ending week higher. dow, s&p and nasdaq posting a fourth straight week of gains the dow is the week's winner, closing up 1.%. all 10 s&p sectors ending the trading day higher led by consumer discretionary and energy. the euro hitting a 11-month high versus the dollar after the ecb said banks will pay back loans faster than expected. euro rising to $1.34 in intraday trading against the greenback. >>> new home sales as we mentioned before falling last month dropping to an annual rate of 3509,000. that is last month's drop did not derail the previous gains. housing sales posted the best year since 2009, jumping 20% from a year ago, sandy. >> we have our market panel. jeff saut, chief investment strategist at raymond james. david steinberg, dls capital managing partner. let's first start with mark. the take on the rally here. it is good news
's a lot of run here and profit taking, but a lot of things going for us, the economy, employment, housing in particular, and, actually, don't forget the fact there's a little taunt between the congress and president right now as far as the debt ceiling goes. >> what's that do to economic growth. i mean, many economists say, you know, the debt ceiling debate, no matter what the fiscal cliff deal, take your pick, is going to shave half a percent of gdp in the first quarter of 2013. >> you know what, this is going to sound terrible, i don't put faith in what economists said. over the past two years, going into two double dip recessions. never came about. they don't have a handle on what's going on. investor and consumer confidence is better than anticipated. we'll do well. >> washington, we need tome -- to keep it going. a lot happening now in the oil market, especially with wti, michael, and in particular, the seaway, unclogging, if you will, of crude supplies another inventory build on our hands do you think? >> you know, tell you what, cheryl, i was with traders over the week, and we had
in equity. the economy is going to be lousy for the next two years. >> so we're running this online poll which is asking this question, this lack of current crisis that we have, is that because there has been real progress or is it century? >> no. i think it's a product. the ecb has stepped up and merkel and others committed to some day doing the kinds of physical transfers of banking units they need. and there has been some real progress even off that cleanup. but none of that is going to offset the unemployment numbers, barred from that the lack of investment, the constraint on demand from the austerity programs, the feedback in europe. so, again, it is real progress, but that's not going translate to growth anytime soon. >> when you say not going to translate into growth, what is the outlook? >> to me, what i've been saying for a few months is that europe's past is bounded from below and from above. we've ruled out the worst of the crisis, thank god. but the austerity, unemployment and continued downward wage pressures put a tight ceiling on growth. so germany is growing less than 11%
low, but a guest said, look, washington is going to mess up the economy. the sequestering issue is prevalent, and the debt ceiling debate is going to further erode consumer confidence, people will not spend, and the rally might be in jeopardy. i'm a real basking of hopefulness and positivity. >> thank you so much. the unions, lou dobbs weighs in on dwindling union membership, but to the point, there's a rally holding on, but a rally nonetheless. >> that's right. the s&p right now, which was above 1500, 1502 to be exact a short time ago, back to the levels we saw in 2007. we're trying to hang on to the rally, but thinking the dow was up more than a hundred points, and now it's up 3 dlsh 4 -- 41. >> will the markets hold on despite with what's going on with apple breaking down? clinging to green, approached the 1500 level not seen in years. if we end higher, that's the 7th consecutive day of gains, the longest winning streak in more than six years for the s&p. >> and no longer the apple of wall street's eye. it pummeledded as they posted the fourth most profitable company ever. >>
state in this world economy forum report that we can prevent storms like sandy if we pay $700 billion a year now. this -- this is amazing. for actual people who phds to come up with these reports, but they do it. they are. lying somehow acts of government and spending can somehow control our government to the climate we want. he said we could do something about floods and hurricanes and droughts, now the power of the ballot box extends to controlling the weather. neil: do you feel this speaks to urgency of doing something about this, what do you think? >> if you accept the united nations and al gore's view, doing, whatever they propose, would have no impact according to their figures. so it is an exercise in futility even if you believe it. the kyoto protocol. the grand-daddy of all climate treaties, which canada has just pulled out of. if that were fully ratified and enforced, it would not have a impact on global warming according to global warming activists figures, the same with u.s., cap and trade bill, obama saying it would have made our planet 4 to 5 degrees cooler. meanwhile ep
the california housing market's come back, is coming back, sixth largest economy in the world, and you guys are in the thick of it, right? with some areas that were very depressed that are now roaring. >> well, we are really encouraged by the turnaround in california. what we reported this morning is that in the fourth quarter or california house sales increased 80% in the quarter. that's been the slowest market to turn around. but as you know, a very big economic engine in this country. and so for us california means not just our own housing start, activity in our housing operation, but also that's the major market for our west coast saw mills and ultimately for the timberlands on the west coast. >> this morning i was on the "today" show and savannah guthrie, she's fabulous, she asked me, jim, all these companies are making a lot of money but are they doing any hiring? i said not that much. what i should have said is you guys in your transcript today make it very clear you are actually hiring people right now. >> well, we are. and most of the hiring in our company today is in our wood prod
of it was looking backwards to 2009. a lot of it was coming out of the very deep recession. the economy was in big trouble. the stock market was extremely depressed. we spent $5 trillion to get the economy recovered. profits have come back. the stock market has moved along with it. i think, now, we have to have this handoff where you need to see more private investment. we are seeing it in the housing data, auto data. lori: you say that you are confident in the overall market. there is not a lot of -- what if you are advised to investors if they are just getting in now? >> i am, you know, it is curious to me if i look at some of the best names out there. if you look at apple today, for example. you are looking at a very low trade. apple is not the only one. there are plenty of companies out there that have sustainable earnings that can grow. at this point, since you have this big recovery in profits, maybe you want to look at companies that can sustain this position. lori: would you take more risks? >> i do not think you have to take a lot of data. one of the things you have to recognize is you ha
of the inaugural address. >> if the president really does care about the economy -- >> it would cancel out the whole long fight to increase auto mileage fuel efficiency standards. >> cheap energy and also a cheap dollar. >> they will fight it. stuart: there you have it. we are out of time. dagen and connell, it is yours. connell: congress set to make a move on the debt ceiling. art laffer is coming up. dagen: playing some defense. the jpmorgan ceo lashing back at critics. more regulation is needed. connell: testifying on the benghazi attack and why moore could not have been done to save americans who died in libya. we will talk about that. dagen: stocks now and every 15 minutes. nicole: we are seeing the dow and the s&p hitting five-year highs. we are in quite an environment. nowhere near that 6500 mark where we were for the dow. we have seen a lot of names on the dow doing well today. microsoft, united, disney. we have had earnings season. we are all waiting on the debt ceiling and, obviously, that is something that looms over. google is up 6% now. as we await each one, it certainly can b
economy will look like in a few years if we continue to follow president obama's agenda. president obama loves to beat up his predecessors and republicans for the state of the nation's economy and crisis the last few years, but in illinois we can't make such excuses. we've been following the big government model for decades and you can see where it's gotten us. stuart: and they can't meet the pensions, the fundamental problem with illinois, the pension what the argument is about. >> pension is the driver, but you look at what other states are doing, wisconsin passed collective bargaining reform, indiana and michigan have passed right to work laws and in illinois we're still beholden to the government employee unions that these politicians refuse to reform the 200 billion pension crisis we're under. stuart: ted. >> we've got to go for big fixes. stuart: right now i want to just concentrate on chicago for a second. >> okay. stuart: i'm told that the mayor, rahm emanuel, he's got a commission looking into the city's finances and that commission suggests that he they should shift their retir
on fox and making things understandable when it comes to the economy. thank you, we appreciate it. and this from john, i dvr your show every day, like your range of topics and style and we like the company. thank you. and grant, he's made an investment in fox business just for "varney & company." quote, i had to pay $10 per month more for my dish tv service to get fox business news. well worth it. even on a fixed income. thank you, grant. he we appreciate that. we'll read your comments throughout the show today and play you some favorite memories what we were doing the last three years, like this. my pen just disintegrated. [laughter] and don't know how that happened. and it just collapsed in my very hand here, i'm penless. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium br
the lights out. they do favor general motors. i'm saying that the rails as an indicator of the economy, may be failing, because they are so coal-based. but union pacific reports tomorrow that is less coal-based and i think they blow it out. union pacific is a winner. >> interesting point. we'll get a lot more after the break. stick around. we'll see how mcdonald's opens for trading now that we've got their earnings comps. >>> speaking of restaurants, we'll talk to ron shaich about the state of his business and what's new at the chain. [ maleu turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. whatever your business challenge, i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares fo
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